Los Angeles Capital Management & Equity Research Inc. decreased its position in shares of Comcast Co. (NASDAQ:CMCSA) by 28.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,788,633 shares of the cable giant’s stock after selling 714,240 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Comcast were worth $63,335,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WP Advisors LLC bought a new stake in shares of Comcast during the second quarter valued at approximately $105,000. Prentiss Smith & Co. Inc. raised its position in shares of Comcast by 229.5% during the second quarter. Prentiss Smith & Co. Inc. now owns 3,295 shares of the cable giant’s stock valued at $108,000 after buying an additional 2,295 shares during the last quarter. IMA Wealth Inc. bought a new stake in shares of Comcast during the second quarter valued at approximately $108,000. Acropolis Investment Management LLC bought a new stake in shares of Comcast during the third quarter valued at approximately $126,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Comcast during the second quarter valued at approximately $129,000. Institutional investors own 80.39% of the company’s stock.
CMCSA has been the topic of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Comcast in a research report on Friday, October 12th. They set an “overweight” rating and a $42.00 price objective on the stock. ValuEngine upgraded shares of Comcast from a “strong sell” rating to a “sell” rating in a research report on Monday, September 17th. UBS Group cut shares of Comcast from an “outperform” rating to a “market perform” rating in a research report on Monday, September 24th. KeyCorp lifted their price objective on shares of Comcast from $38.00 to $43.00 and gave the company an “overweight” rating in a research report on Wednesday, September 26th. Finally, Moffett Nathanson reissued a “neutral” rating and issued a $36.00 target price on shares of Comcast in a report on Monday, September 24th. Nine research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $44.57.
In other news, EVP Arthur R. Block sold 1,082 shares of the business’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $35.94, for a total transaction of $38,887.08. Following the completion of the sale, the executive vice president now directly owns 62,476 shares of the company’s stock, valued at $2,245,387.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Arthur R. Block sold 6,448 shares of the business’s stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $35.48, for a total transaction of $228,775.04. Following the sale, the executive vice president now directly owns 74,644 shares of the company’s stock, valued at $2,648,369.12. The disclosure for this sale can be found here. 1.31% of the stock is owned by insiders.
NASDAQ CMCSA opened at $38.34 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm has a market cap of $177.88 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.21 and a beta of 0.93. Comcast Co. has a 52 week low of $30.43 and a 52 week high of $44.00.
Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, October 25th. The cable giant reported $0.65 EPS for the quarter, topping the consensus estimate of $0.61 by $0.04. The company had revenue of $22.14 billion during the quarter, compared to analyst estimates of $21.75 billion. Comcast had a net margin of 27.33% and a return on equity of 15.79%. Analysts predict that Comcast Co. will post 2.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 23rd. Shareholders of record on Wednesday, January 2nd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Monday, December 31st. Comcast’s payout ratio is 36.89%.
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Comcast Company Profile
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.
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